Since early January, 43 companies, including Coinbase, Crypto.com, and Kraken, have received this license allowing them to operate throughout Europe.
This week, the American crypto exchange Kraken obtained the European Mica license (for "Markets in Crypto-Assets Regulation"), allowing it to operate throughout Europe. The company secured this from the Central Bank of Ireland, which is issuing such a license for the first time. Since early January, companies can obtain this license from any European regulator.
According to the latest available data on the ESMA (European Securities and Markets Authority) website, 43 crypto companies have obtained the Mica license. Two countries are champions in this area: the Netherlands with 15 licenses granted, followed by Germany with 12 licenses.
While the Netherlands has issued licenses to medium-sized crypto companies, large players like Commerzbank, Bitgo, and Trade Republic have chosen the German regulator (BaFin) to ensure compliance. It is interesting to note that the leading European power, known for the strictness of its regulator, attracts many businesses.
Only two licenses in France
In third place, Malta (MFSA) granted licenses to five players, including giants Crypto.com and OKX. According to several experts, the Maltese regulator (MFSA) is showing leniency in issuing European licenses. "We occasionally see products entering our market" that are "approved by some of our colleagues with, let's say, a somewhat hasty pen," said the president of the French Financial Markets Authority (AMF), Marie-Anne Barbat-Layani, during a hearing in the Senate.
In Luxembourg, three licenses have been granted to major players: Coinbase, Cleastream Banking, and Bitstamp. In France, the Financial Markets Authority (AMF) has only issued the license to two French players, Deblock and GOin. Finally, Robinhood chose the Bank of Lithuania and Bitpanda and Bybit chose Austria to obtain their license. Two crypto giants are still missing: Binance and KuCoin.
New rules to comply with
As a reminder, companies wishing to offer crypto services in Europe have until June 2026 to obtain the Mica license. This European regulation is one of the first in the world to have emerged, while the United States is working to establish its own regulations, starting with those related to stablecoins, under the presidency of Donald Trump.
With Mica, new rules apply to companies, ranging from "good conduct" obligations, governance, and conflict of interest management to capital requirements. For example, companies must "warn" their clients about the risks associated with crypto transactions as well as "comply with the requirements" related to the safekeeping of their assets, especially in the event of insolvency.
